What is Paytm and How to use Paytm Wallet?

Paytm wallet is an e-wallet.Paytm is a mobile-based e-commerce company.Parent Organisation of Paytm is one97 Communication.It’s an Indian startup which has shown phenomenal growth after demonetization in India.In the past company used to provide few services like mobile recharge and online bill payment.But today it provides a stack of services like online shopBus ticket booking, Movie tickets, Air Tickets and much more.

Paytm Wallet service is a virtual wallet .where you can store money. And you can use it for multiple transactions like Sending & Receiving payment, paying bills online, transfer money into the bank and vice-versa.In the wallet, there is a limit of Rs 10,000 of every user to send & receive money. if you want to upgrade the limit to Rs 1 Lakh, then you have to verify your account through KYC process.

Moreover, you can add money from credit card also. But there is little fees that you have to pay.Paytm recently launched their app in Canada.People in Canada now can use paytm to pay their utility bills.Along with that paytm also offers heavy cash back to their customer.

How to use Paytm wallet?

You can use paytm online through https://paytm.com/. Either you can download paytm app on your phone. After registration & Verification then you can add money in your w allet.you can add money from bank transfer or credit cards. You can use this money to pay mobile,DTH, water, electricity and Mobile Bills.Paytm cash can be used on website or app for all transactions.

How to get Cashback in paytm?

Once you make a successful transaction then paytm will load cashback in your wallet.you can use this amount for future transaction.For the cashback you have to apply promo code for your transaction, then only you will get cashback.Cashback takes 24 hours to be credited in your paytm wallet.

How to transfer money into bank using paytm wallet?

This Feature is only avialable on paytm app not on website.you can install app from the app store.Once you log in you have to choose “Bank Account” option in Send Money Tab, enter the details their and click on send money.Money will be transsferred instantly.Paytm will charge fee of 4% for transferring money.

Coupons & Promo Codes-

Paytm offers many coupons and promo code for their customers. User can use these codes for getting good discounts .You have to use these promo code before making payment . For every transaction coupons are also different.

Paytm is also going to launch their payment bank very soon.Where an individual or small business owner can open account, can make transactions up to Rs 1 lakh. paytm is the first virtual wallet which got permission from RBI to open payment banks in india.Major shareholders in paytm is Alibaba Group.